Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    229 22nd St Phoenix, AZ 85034

    • Commercial real estate
    • 3,200 SF
    • 1.96 lot acres
    OFF-MARKET
    Value Estimations
    $5,560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1372924
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 229 22nd St

    Year built
    1966
    Construction
    STEEL FRAME
    Lot size
    1.96 lot acres
    Property size
    3,200 SF
    Zone code
    A-2
    Property type
    Commercial real estate
    APN
    115-08-092
    APU
    11508092

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,620,000
      Market price range: $585k - $5.62M
      AI Estimate
      $5,502,000
      Market price range: $447k - $5.50M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.034
    Latitude
    33.4448
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $11,221
    $0.00
    $0.00
    $151,998
    -
    $656,400
    $264,800
    $921,200

    Comparable in this City

    • Value Estimation by Request
      0.17 Acres

      2420 19th Pl

      COMMERCIAL (GENERAL) • 0.17 Acres
      2420 19th Pl, Phoenix, AZ 85034-6715
      View Details
    • Value Estimation by Request
      22.98 Acres

      2010 24th St

      COMMERCIAL (GENERAL) • 22.98 Acres
      2010 24th St, Phoenix, AZ 85034
      View Details
    • Value Estimation by Request
      0.00 Acres

      310 29th St

      COMMERCIAL (GENERAL) • 0.00 Acres
      310 29th St, Phoenix, AZ 85034-2707
      View Details
    • Value Estimation by Request
      0.14 Acres

      318 37th St

      COMMERCIAL (GENERAL) • 0.14 Acres
      318 37th St, Phoenix, AZ 85034-2914
      View Details
    • Value Estimation by Request
      2.19 Acres

      301 30th St

      COMMERCIAL (GENERAL) • 2.19 Acres
      301 30th St, Phoenix, AZ 85034-2714
      View Details
    • Value Estimation by Request
      0.04 Acres

      4632 Hammond Ln

      COMMERCIAL (GENERAL) • 0.04 Acres
      4632 Hammond Ln, Phoenix, AZ 85034-6411
      View Details

    Similar Nearby for Sale

    • $2,475,000
      0.34 Acres

      Downtown Phoenix Office Building

      7,730 SF Office, Prime Location, High-End Finish
      801 Washington St, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      4,560 SF

      Phoenix Industrial Building For Sale

      4,560 SF Flex Space, Updated 2023
      2326 Washington St, Phoenix, AZ 85034
      View Details
    • $575,000
      2,556 SF

      Phoenix Retail or Auto Opportunity

      2,556 SF building with 7,626 SF fenced yard.
      211 N 20Th St, Phoenix, AZ 85034
      View Details
    • $6,000,000

      Downtown Phoenix Multifamily Infill Opportunity

      Land approved for 70 units in Downtown Phoenix.
      909 W Washington St, Phoenix, AZ 85034
      View Details
    • $2,450,000
      11,019 SF

      Phoenix Office Building For Sale

      Office building with training rooms, flexible layout, and ample parking.
      2544 E University Dr, Phoenix, AZ 85034
      View Details
    • $1,150,000
      5,750 SF

      Phoenix Industrial Warehouse - $1.15M

      5,750 SF Warehouse, Ideal Location
      2930 Washington St, Phoenix, AZ 85034
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,200 SF

      Phoenix Industrial Space for Rent

      Industrial property available for rent in Phoenix, Arizona.
      1411 E Hadley St, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      3,131 SF

      Medical Office Space Available

      Second-generation medical buildout near multiple medical facilities.
      4222 N 12Th St, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      20,536 SF

      Divisible Two-Story Office Building

      Two-story office building available for immediate occupancy.
      3201 E Elwood St, Phoenix, AZ 85034
      View Details
    • $15 SF/Yr
      14,304 SF

      Remodeled Office Space Available

      Newly remodeled office space suitable for back office or call center.
      4717 E Hilton Ave, Phoenix, AZ 85034
      View Details
    • Contact for pricing
      10,350 SF

      Phoenix Warehouse Space for Lease

      Warehouse space for lease with convenient freeway access and amenities.
      1646 E University Dr, Phoenix, AZ 85034
      View Details
    • $1.50 SF/Yr
      46,742 SF

      Industrial Space I-10 & University

      Industrial space available for lease near I-10 and University.
      2850 S 36Th St, Phoenix, AZ 85034
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    229 22nd St
    Phoenix, AZ 85034
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.